Restaurant Building with
New
For Sale
$725,000
5045 Memorial Boulevard, Kingsport, TN 37664
Commercial Sale, Kingsport, TN
Property Size2,400 SF
Lot Size1.61 Acres
Price / SF$302.08
Days on Market3
Property Features for 5045 Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B 4 / R 1
Subdivision
Not In Subdivision
Directions
Memorial Boulevard, property on the on the right -past East Lawn Cemetery.
Standard status
Active
APN
048 02120 000
Size
2,400 SF
Lot size
1.61 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Annual Amount
2518
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
front porch
rear porch
whole-building LED lighting
alarm system
security cameras
exterior electrical receptacles and water spigots
commercial-grade septic system
concrete driveway and parking lot
two programmable LED signs
Building Details
Year built
2017
Building materials
Metal Siding
Roof type
Metal
Buildings
1
Listing Agency:
CENTURY 21 Legacy Fort Henry · EXIT Realty
(423) 239-6112
Listed By:
Chris McMeans · License #314995
(423) 914-0450
Added: Oct 26
Last Checked: Oct 28 at 10:06PM
MLS# 10002604
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The restaurant occupies a 2,400-square-foot steel building built in 2017 on a 1.61-acre parcel. A drive-through pickup window, extensive kitchen and restaurant equipment, and dining-area heat pumps support the existing restaurant setup. The building also includes an 8' x 60' front porch, a 12' x 60' rear porch, whole-building LED lighting, an alarm system, and security cameras covering the grounds.
Two programmable LED signs, exterior electrical receptacles, water spigots, and a concrete driveway and parking area are also on site. The property has public water and a commercial-grade septic system, with space for two additional buildings. Zoning is listed as B 4 / R 1.
Two programmable LED signs, exterior electrical receptacles, water spigots, and a concrete driveway and parking area are also on site. The property has public water and a commercial-grade septic system, with space for two additional buildings. Zoning is listed as B 4 / R 1.
Key Highlights
- 2,400‑square‑foot steel building, constructed in 2017
- 1.61‑acre parcel with room for two additional buildings
- Drive‑through pickup window and extensive kitchen and restaurant equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,380
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,600
$507.6K
Cap Rate 7%
$362,571
$362.6K
Cap Rate 9%
$282,000
$282.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$36.0K $15.00/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$33.8K $14.10/SF
− OpEx
−$8.5K −$3.53/SF
NOI
$25.4K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,600
Cap Rate 7%
$362,571
Cap Rate 9%
$282,000
Alternative Uses
Best Use
Specialty Retail
$362.6K
$317.3K – $423.0K
NOI $25,380 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$898.8K
$786.4K – $1.05M
NOI $62,913 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
13k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 74%
Dining 26%
Dollar General Market
Groceries
9,457 visits/mo
0.3 miles
Pizza Plus
Dining
3,353 visits/mo
0.2 miles
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Equipped restaurant facility on a commercially zoned parcel with room for additional buildings.
Where is this conventional restaurant located?
The property is located at 5045 Memorial Boulevard Kingsport, TN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,400‑square‑foot steel building, constructed in 2017; 1.61‑acre parcel with room for two additional buildings; Drive‑through pickup window and extensive kitchen and restaurant equipment
